A small copy shop spent 24% of its monthly revenue on supplies, 17% on rent and 43% on payroll. If, after paying these expenses $7,384 is left then how much wa

Question

I think the answer is $7,845.50 but that is not one of the choices.

Answer 1

Nathan,

I assume you want to know the total revenue.  First, figure out the percent that was spent.  24% on supplies + 17% on rent + 43% on payroll is 84% spent.

You have to remember that this is a percent.  The whole revenue, before anything is paid, is 100%.  100% - 84% leaves 16%.

 

So they have 16% left after those expenses.  You want to know what they started with, that is, what the total revenue is.  $7384 is 16% of the whole revenue, since $7374 is the amount left in dollars and 16% is the amount left in percent.  

 

Depending on how you have been taught, you can do this several ways.  Equation method:

7384 = .16 n   isolate the n, and you will have your answer.

 

Ratio method   percent/100 = is/of

16/100 = 7384/n    Cross multiply and solve.

 

Hope this helped!

 

Mary